Sport Daimler share wins: Strong third quarter gives Daimler tailwind: Profit forecast raised in Corona crisis year

11:45  23 october  2020
11:45  23 october  2020 Source:   finanzen.net

Daimler CEO committed to F1, seeks to slash costs

  Daimler CEO committed to F1, seeks to slash costs UK-DAIMLER-F1-CEO:Daimler CEO committed to F1, seeks to slash costs"We have as little reason to step out of Formula One as Bayern Munich has to step out of football," he said during a virtual roundtable discussion with journalists on Wednesday.

Daimler AG ( Daimler ) is a Germany-based automotive engineering company. The Company engages in the development, production and distribution of cars, trucks In Europe Tuesday, Mercedes-Benz gives a strategy update and on the data front, Germany publishes its latest monthly industrial orders.

How has Daimler 's share price performed over time and what events caused price changes? Latest Share Price and Events. Stable Share Price: DAI's share price has been volatile over the past 3 Earnings vs Savings Rate: DAI is forecast to become profitable over the next 3 years , which is

Daimler dares to achieve an operating profit at the previous year's level in the Corona crisis after the significant increase in profits in the third quarter for the full year.

TORU YAMANAKA/AFP/Getty Images © Provided by Finanz.net TORU YAMANAKA / AFP / Getty Images

With a strong third quarter behind them, the carmaker Daimler is confident of doing a little more this year than before. The Stuttgart-based group announced on Friday that it will no longer be possible to make up for the sales losses as a result of the corona pandemic, and sales will therefore also lag well behind 2019. In return, the operating result should at least reach the previous year's level of 4.3 billion euros - albeit weak, influenced by the billions in diesel pollution. So far, Daimler had assumed that it would remain below the 2019 values ​​everywhere due to the massive consequences of the Corona crisis.

BMW share: BMW with surprisingly good development of finances in quarter

 BMW share: BMW with surprisingly good development of finances in quarter In the past quarter, the car manufacturer BMW, like its rival Daimler, recorded a surprisingly good development in financial resources. © Provided by Finanz.net Hannelore Foerster / Getty Images Between July and the end of September, the group recorded an inflow of 3.07 billion euros in its core business with car manufacturing, announced to BMW surprisingly on Monday evening in Munich. According to preliminary data, the group thus exceeded current market expectations, it said.

Daimler Logo (PRNewsFoto/ Daimler Corporate Communications) (PRNewsFoto/ Daimler Corporate Communications). Strong Q3 sales for The top electric vehicle manufacturers reported strong vehicle deliveries in the third quarter . Friday brought delivery numbers from EV pioneer Tesla Inc

The Income Statement (earnings report) for Daimler AG NA O.N.. Find the company's financial performance, revenue, and more. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Summary. Strong Sell. Moving Averages

The Daimler share on the Tradegate trading platform was just under one percent above the Xetra closing price on the previous evening. One trader rated the higher profit forecast slightly positive. Daimler had already presented preliminary figures for the third quarter. Philippe Houchois of the Jefferies investment bank saw opportunities for higher market expectations in terms of earnings, and the liquidity cushion at Daimler should be further strengthened in the fourth quarter.

After the pandemic had plunged Daimler deep into the red in the second quarter, the company said it benefited in the third quarter from an unexpectedly rapid market recovery and from its measures for more efficiency and cost discipline. "With this momentum, we are on the right track to make our business more weatherproof," said CFO Harald Wilhelm. "The transformation of Daimler is, however, a long-distance race. We are keeping the pace high - focused and with a high level of discipline."

WiWo top law firms: These are the best lawyers for patent and copyright law

 WiWo top law firms: These are the best lawyers for patent and copyright law A legal dispute over a patent between Daimler and Nokia is keeping the industry in suspense. And shows: Victory or defeat in this seemingly insignificant area of ​​law can have a decisive impact on the success of a company. © dpa The current legal dispute between Nokia and Daimler over a telematics patent at the Mannheim District Court is only known to insiders. But that could change immediately if it got as far as the Daimler representatives warn: a production standstill.

Daimler AG (DDAIF) sees first- quarter earnings plunge almost 70% as the coronavirus-related lockdowns have left its auto showrooms closed.The German luxury automaker announced that it expected preliminary adjusted first- quarter earnings before interest and tax (EBIT)

Daimler 's revised forecast came on the same day as reports that German automakers had backed a proposal that the European Union drop tariffs on vehicles to defuse trade tensions. Beijing's proposed 25 percent tax on U.S. car factory exports will hit nearly 270,000 vehicles, with German carmakers

The Group assumes that the economic framework conditions in the most important markets will continue to normalize and, above all, that there will be no further setbacks as a result of the pandemic. Daimler was able to sell almost 773,000 cars, trucks and buses in the third quarter, eight percent fewer than in the same period last year. At 40.3 billion euros, sales were seven percent below the prior-year quarter.

The bottom line was that the shareholders made a profit of 2.05 billion euros - that is even 19 percent more than in the same period last year. Without the deduction of minority interests, the group result was 2.16 billion euros. Daimler announced the earnings before interest and taxes of just under 3.1 billion euros a week ago.

The Daimler management around boss Ola Källenius missed out on concrete margin targets for the divisions that were exposed due to the crisis. At Mercedes Benz Cars & Vans, the Stuttgart-based company is now expecting a return on the adjusted operating result based on sales of 4.5 to 5.5 percent. This is a little more than Daimler had set 4 to 5 percent at the beginning of the year before the outbreak of the Covid crisis. At Daimler, the figures also include the business of the Chinese joint venture, which got back on track early on and grew particularly strongly in the third quarter.

Analysing Australia’s Test cricket winners: The best of the best

  Analysing Australia’s Test cricket winners: The best of the best In previous articles I have been examining how Australian players have performed in Test match wins, both how many career wins they have compared to losses and how they have performed in those wins. This time I am going to look at the overall best performing batsmen in wins, losses and draws and also see how this compares to the rest of the world. Please refer to my previous articles for detailed analysis of around 20 top players’ performances in wins. Firstly here is a team of the best performers in wins in rough batting order (minimum ten wins). Sid Barnes (average 70.76, difference to peers +14.

Daimler AG Chief Executive Officer Ola Kallenius will widen cost cuts to shore up returns, even as the Shareholders criticize misguided investments, profit warnings. New Mercedes-Benz S-Class Daimler will offer five electric models and more than 20 plug-in hybrids by year -end, Kallenius said.

Daimler Trucks North America halted production of Freightliner and Western Star trucks in the United States and Mexico on Monday, and PACCAR Inc. (NASDAQ: PCAR) said Tuesday it had suspended global truck production by its Kenworth, Peterbilt and DAF brands until April 6. Daimler and PACCAR

For trucks and buses, Daimler is now assuming an adjusted operating return of one to two percent. Here, however, the target at the beginning of the year was 5 percent. The division was hit hard by the economic crisis, but recorded an increase in orders in the third quarter compared to the same period last year. In the Mobility division with financial and mobile services, the group expects an adjusted return on equity of 9 to 10 percent. At the beginning of the year, this requirement was still 12 percent.

The good financial position in the third quarter, in which the company received 5.1 billion euros in free cash flow in the industrial business, made CFO Harald Wilhelm more optimistic for the year as a whole. He is now anticipating a cash inflow of significantly more than the 1.4 billion achieved in the previous year, after having previously calculated less.

After nine months, Daimler has a positive free cash flow of 3.5 billion euros in its industrial business. In the first half of the year, money flowed out of the cash register because Daimler was barely able to sell cars for weeks in the corona lockdown, but the costs continued to run in some cases.

Almost 2,000 Daimler employees leave voluntarily.

Daimler is gradually making progress with the announced workforce reduction.

In the severance payment program, the number of employees is going towards 2,000, explained CFO Harald Wilhelm on Friday. "I don't want to overemphasize that, but it's going in the right direction," said Wilhelm. This can also be seen in the increasing expenses for restructuring, which climbed to almost 300 million euros in the third quarter. The number of employees worldwide was 291,770 at the end of September, around 7,000 lower than a year earlier.

In early XETRA trading, Daimler shares are up 2.18 percent to 48.95 euros. (Dpa-AFX / Reuters)

Deutsche Bank surprises with high profit .
After an unexpectedly good third quarter, confidence is growing at Deutsche Bank. Despite the unprecedented economic downturn as a result of the corona pandemic, according to the bank, it was consistently profitable in 2020. © A.

usr: 0
This is interesting!